Select Harvests which owns and manages orchards, processes almonds, and sells brands including Lucky, Sunsol, and Soland, acquired $60 million worth of orchards, water entitlements, and land in Victoria and Southern Australia in August 2014.
Since that time, the company has been considering funding options to plant out 5,000 acres of new almond orchards on the properties. Select Harvests said it would not be going directly to any retail investors, but has considered a sale and leaseback arrangement, as 40% of the group’s orchards are managed under a sale and leaseback arrangement with Rural Funds Management and it has proven out to be a positive arangement.
The company states that it is seeking expressions of interest from long-term (around 20 years) investors interested in leasing the newly acquired orchards and land which Select Harvest will then develop, manage, and process and market the almonds.
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